EAGAN, MN - Kitchen cabinet manufacturer Norcraft Companies says net sales increased $3.7 million, or 5.7%, during the first quarter of 2012, to $67.9 million. While income from operations increased 11.7 percent to $4.7 million for first quarter 2012, net loss almost doubled from $1.3 million for the first quarter of 2011 to $2.5 million for first quarter of 2012.
"We grew sales and profit more than expected," says CEO, Mark Buller, "however, we anticipate the balance of 2012 will be very challenging in the highly competitive cabinet industry where consumers are continuing to be cautious about big- ticket purchases."
Norcraft Companies manufactures, assembles and finishes kitchen and bathroom cabinetry for the U.S. and parts of Canada, including stock, semi-custom and custom cabinets manufactured in both framed and frameless, or full access, construction. Products through six main brands: Mid Continent Cabinetry, Norcraft Cabinetry, UltraCraft, StarMark Cabinetry, Fieldstone Cabinetry and Brookwood.
Have something to say? Share your thoughts with us in the comments below.